https://www.taxtmi.com/caselaws?id=460325 The Tribunal quashed the Assessing Officer's (AO) additions, finding them unjustified due to a lack of specific defects in the books of accounts and reliance on assumptions without concrete evidence. The Tribunal set aside the rejection of the books under Section 145(3) of the Income Tax Act, as the AO failed to identify specific defects. It also ruled that the denial of cross-examination violated principles of natural justice, rendering the AO's findings unreliable. Furthermore, the Tribunal agreed with the assessee that the AO's actions constituted double taxation, allowing the appeal in favor of the assessee. en-us Tue, 10 Dec 2024 00:00:00 +0530 Sun, 19 Jan 2025 09:10:01 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=460325 The Tribunal quashed the Assessing Officer's (AO) additions, finding them unjustified due to a lack of specific defects in the books of accounts and reliance on assumptions without concrete evidence. The Tribunal set aside the rejection of the books under Section 145(3) of the Income Tax Act, as the AO failed to identify specific defects. It also ruled that the denial of cross-examination violated principles of natural justice, rendering the AO's findings unreliable. Furthermore, the Tribunal agreed with the assessee that the AO's actions constituted double taxation, allowing the appeal in favor of the assessee. Case-Laws Income Tax Tue, 10 Dec 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=460325